Ready, Set, List!

10 tips for selling your home in a seller’s market

story by Janet Lees ❧ illustration by Robert Carter

Where Have all the Houses Gone? ❧ illustration by Robert Carter

As a seller in a seller’s market, it might seem that a quick, easy and financially rewarding home sale is assured no matter what you do – or don’t do. But don’t be fooled – it’s as important as ever to be well prepared and well informed before you put your home up for sale.

Here are 10 tips to ensure that you take full advantage of today’s hot market. With the right approach, you may even get multiple offers within days of listing your home!

Price your Home to Sell

Just because it’s a seller’s market, don’t think you can slap a sky-high price on your home and still get multiple offers – or any offers, for that matter. As always, it’s important to price your home properly based on location, size, condition, amenities and what other comparable homes recently sold for.

“Your realtor will provide you with a comprehensive presentation of the true market value of your home by pulling the historic data from the MLS (Multiple Listing Service) system to show you the most recent sales in your area and also the current listings that your home will be competing with in the marketplace,” explains Joanne Evans, Broker of Record for Century 21 Millennium Inc., which has locations in Collingwood, Thornbury and Wasaga Beach as well as Oakville and Brampton.

“Remember that a good buyer sales representative will educate their client about what your price should be as well. They will also share all the comparable sales and current listings so that their buyers are well informed of the value of your home.”

Price your home too low and you will leave money on the table. Too high and there will be no offers. Watching your home just sit on the market will be especially frustrating as you watch “Sold” signs go up all over town in record time.

“Everyone is tempted to start with a high price to see what happens, but over-pricing can be a bad strategy,” says Evans. “Too long on the market and the buyer wonders, what’s wrong with that house?”

Choose the Right Realtor

Your realtor is the person you’re going to trust to get you the very best deal on your house, so choose your salesperson wisely! Find a successful, experienced realtor with a proven track record, and ask for a thorough market evaluation.

“You should expect a presentation from your realtor that includes all comparable sales within the most recent time period as well as a detailed review of all the current listings that your home will be compared to by any active buyers,” notes Evans. “Be sure they are well informed on your neighbourhood and all it has to offer. The job of a qualified real estate salesperson is to educate you so thoroughly on the market as it pertains to your house that you will understand the pricing recommended for your property.”

Ask your realtor about their marketing plan for your property. “A good realtor will not only promote the selling features of your house, but will also know your neighborhood and understand how to present the lifestyle benefits, whether proximity to waterfront, ski hills or walking trails,” says Evans. “Many provide brochures for buyers that showcase the benefits of family activities, schools and even the best restaurants in your area. A good realtor will save you time and money!”

Have a Creative Online Strategy

“Ninety per cent of all buyers start the home hunting adventure online,” notes Evans. “To get them out of their house and into yours, the online presentation of your home needs to be compelling and exciting.”
Choose a realtor who strongly embraces technology and uses tech-savvy tools to promote and provide maximum exposure for your house.

“This will include sending in a professional photographer to do still shots, drones for exterior views, professional virtual tours or videos of your home,” says Evans, adding there should also be a strategy to promote your home on Facebook, YouTube and other social media platforms.

Let There be Light!

Buyers want a bright, cheerful feeling in their new home, so make sure their first impression is light-filled and positive. “Maximize the lighting in your home by cleaning the windows and taking down heavy window coverings,” advises Evans. “Replace lightbulbs with higher wattage bulbs and replace old light fixtures. Also, mirrors make dark rooms appear bright.”

Create Curb Appeal

You only have one chance to make a great first impression, and when it comes to your home, that first impression begins at the curb.

“Be sure to get exterior maintenance done,” advises Evans. “Repair or resurface driveways and get your landscaping done. Put planters at the front door with fresh flowers to welcome the buyers. Make sure the walkways are safe and have good lighting. Spruce up the front door with new hardware. Watch that roof! They can see it from the curb.”

Complete Renovations

Evans’ number one suggestion: paint! “You will get the full return on your money with a fresh coat of paint,” she says. Stick with neutral tones – that bright fuschia you love so much might be a complete turnoff to potential buyers. Do the quick fixes by replacing door handles, cabinet hardware and leaky faucets.

The kitchen is the heart of the home and needs to be welcoming. Functionality is key, so clear the counters to optimize the feeling of space. “Keep things clean and fresh,” advises Evans. “Never forget how strong our sense of smell is!”

Bathrooms also are an important place to spend some reno money. Clean that grout, replace old countertops and vanities, and make your bathrooms as spa-like as possible.

De-clutter!

No matter how hot the market, your house isn’t likely to sell if it is cluttered and messy. Clutter makes spaces appear smaller, dirtier and dingier (even if you are a clean freak). So toss out those old magazines. Clear off the counters. Make space in your closets. Pack up and store your off-season clothing. Rent a storage space if necessary.

“De-cluttering your home will show the maximum space that’s available for the new family,” says Evans. Can’t handle the job yourself? There are local businesses that will help you with the paring down process and some will even haul away your junk!

De-Personalize

This is related to de-cluttering, but there may be many items in your home that you don’t see as clutter but a buyer will. So pack away those family photos, knick-knacks and dried flower arrangements to give potential buyers a “blank canvas” that will enable them to picture themselves living in your home.

“The new buyer needs to imagine their family living in your house, not your family,” warns Evans. “You will be moving anyway, so the first items to be packed up should be your personal pictures and your treasures. This is your chance to purge and do the long-awaited spring clean.”

Your children and pets may be much-loved family members, but to a potential buyer they also count as personal items, so get everyone out of the house whenever possible for showings.

Hire a Home Stager

Show off your home to its best advantage by hiring a professional home stager. “This is money well spent and some salespeople will include a stager in their marketing plan,” says Evans. “They will arrange furniture to best showcase the floorplan and maximize the use of the space.”

Stagers use their design backgrounds to make the home most appealing to buyers. “Most sellers feel like their home looked like a model home when the stager finished and often wonder why they didn’t do this for their own enjoyment!”

Hire a Home Inspector

This is a wise thing to do before your home goes on the market. “It will save any unexpected surprises that could surface after the offer is accepted but during the conditional period when the buyer brings in their own home inspector,” explains Evans. “Many realtors will recommend this be done prior to listing so that you are aware of any issues that could obstruct receiving the best possible price for your home.”

Getting ready to sell your house in a seller’s market isn’t vastly different than doing so in any other type of market. It’s all about preparation. But the happy result in today’s market could be selling your home quickly and lucratively!